Illustrate International Contracts of Sale
Illustrate International Contracts of Sale?
Expert
An export sale requires four documents, each of which plays a distinct role in the sale transaction:
1. Contract of Sale
a. Trade terms and terminology must have the same meaning to both parties, so reference is often made to published interpretations of international trade terms.
b. There should be a reference to the governing law.
c. The contract is very detailed as to quantity, quality, price, shipping, etc.
d. There is usually an arbitration clause to resolve disputes.
2. Bill of Lading – This is a contract between the seller and the carrier of goods.
3. Insurance – This is required to protect against the hazards associated with shipment of goods.
4. Commercial Invoice – This is usually required by the buyer’s customs office.
Explain how it is responsible for an equal share of Profits/Losses?
What is a Tort?
Describe in brief about exceptions to Privity of Contract in respect of Interests in land, Constructive trust, Life insurance and undisclosed principal?
Explain Export and Import Permits Act?
When is the Agent Liable?
Write down an explanatory note on the OTCEI.
What will happen when misunderstandings about the meaning of words?
Explain what do you mean by Restrictive Covenants?
Elucidate termination of a Lease?
Explain Role of Directors and the Role of Officers?
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